Karnataka Bank has reported a net profit of Rs 317.03 crore for the first nine months of the current year against Rs 229.82 crore for corresponding period last year. Current Account, Savings Account (CASA) increased by Rs 1,162 crore from Rs 9,576 crore to Rs 10,738 crore.
The deposits of the bank have reached Rs 44,799 crore with Y-O-Y growth rate of 15.81% and advances Rs 30,338 crore with Y-O-Y growth rate of 12.34%. The capital adequacy ratio stood at 11.99% [under BASEL II] and 11.79% [under Basel III] against the regulatory requirement of minimum 9%.
The bank has the future plans to expand its network and set up new 75 branches and 300 ATMs across the country. Further bank has also plan to start up new lobiies. In this year bank has already established 6 branches and 127 ATMs taking tally of service outlets.